<u>Question 1</u>
The correct answer is: "FALSE".
The total revenue earned by a firm is computed using the formula:
R= price * quantity
According to the formula, if the term "price" increases, R would increase too. But an increase in price usually decreases the amount demanded by consumers of a certain product. Therefore, if quantity demanded drops in a higher proportion than the increase in price, the final total revenue would decrease. So the final effect depends on the size of the two variations.
<u>Question 2</u>
<u>The determinants of demand are the following:</u>
- Price: inversely related to the quantity demanded, as the larger the price the smaller the amount demanded of a product.
- Income of consumers: directly related. The larger the income earned by an economic agent, the larger the amount demanded of a normal good (there are exceptions, such as inferior goods, for which income and demand are inversely related).
- Prices of related goods of services. If two goods are substitutes, the increase on the price of one, decreases the amount demanded of that product but increases the amount demanded of the other product. It two goods are complements, the increase in the price of one good decreases the amount demanded of it, and the amount demanded of the other product too.
- Tastes or preferences of consumers. If a product is in line with the general preferences of consumers the amount demanded will be large.
- Market expectations. For example, if a price is expected to rise, consumers might prefer to buy now and therefore demand increases at the moment.
Answer: cultural relativism
Explanation:
the idea that a person's beliefs, values, and practices should be understood based on that person's own culture, rather than be judged against the criteria of another.
Answer: Quid pro quo
Explanation:
Quid pro quo is defined as a favour granted in return for something done. Betty wants promotion and Ben wants to take advantage of her by granting her a promotion on the basis of Betty fulfilling his sexual flavours. This is an assualt and an unfavourable condition for Betty if she doesn't want to and as such promotion should be merit on stands of hardworking and not an immoral favour.
Answer:
A situational attribution
Explanation:
A situational attribution is the tendency of assigning the cause or responsibility of a certain behavior or action to outside forces rather than international characteristic and we often explain our new actions and behavior using the environmental or situational features, meaning something that is beyond our control.
Every form of explanation we come up with that focuses on the environment in order to explain behavior can also be referred as situational attributes.
Answer:below Uchenna's absolute threshold
Explanation:An absolute threshold refers to the lowest level of stimulus that we can detect half the time.
It is used in neuroscience and during experiment in order to see what level of stimulus is an individual able to detect using their sense this involves detecting sound,taste,sight,smell and touch. For example for sound detection , a person hearing may vary with varying levels of volume, the lowest volume that one is able to hear
half the times is called absolute threshold.
